Putting this under Other because it’s not really Economics.
I guess this is a question about banking security. Most people don’t withdraw past the ATM limit anyway, so why do tellers insist on seeing a photo ID even though the customer could easily withdraw that same money from an ATM without that step?
In: 10
It’s all about multi-factor authentication. The most common factors are 1) something you have 2) something you know 3) something you are. You need at least 2 of those to be allowed to do the thing.
When you use an atm, you have an ATM card and you know your pin. That’s enough to satisfy the requirements.
When you withdraw from a teller, you know your account number and you have an id card. That’s also enough.
I’d you go to the bank with just your account number, you haven’t provided a 2nd form of authentication.
I didn’t mention any scenario with “something you are,” but generally that’s a biometric of some sort. Fingerprint, DNA, retina scan… Something that defines you uniquely.
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